Inogen, Inc (NASDAQ:INGN) Position Boosted by Bank of America Corp DE

Bank of America Corp DE boosted its position in shares of Inogen, Inc (NASDAQ:INGN) by 160.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 59,452 shares of the medical technology company’s stock after buying an additional 36,652 shares during the period. Bank of America Corp DE owned 0.29% of Inogen worth $4,611,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Inogen by 145,976.1% in the first quarter. BlackRock Inc. now owns 2,110,800 shares of the medical technology company’s stock worth $163,711,000 after buying an additional 2,109,355 shares in the last quarter. Brown Capital Management LLC boosted its stake in shares of Inogen by 2.1% in the first quarter. Brown Capital Management LLC now owns 1,446,332 shares of the medical technology company’s stock worth $112,178,000 after buying an additional 29,084 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Inogen by 4.8% in the first quarter. Vanguard Group Inc. now owns 1,213,605 shares of the medical technology company’s stock worth $94,127,000 after buying an additional 55,802 shares in the last quarter. Blair William & Co. IL boosted its stake in shares of Inogen by 1.9% in the first quarter. Blair William & Co. IL now owns 921,693 shares of the medical technology company’s stock worth $63,462,000 after buying an additional 17,377 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Inogen by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 502,412 shares of the medical technology company’s stock worth $38,967,000 after buying an additional 3,796 shares in the last quarter.

Inogen, Inc (INGN) traded down 0.32% during mid-day trading on Wednesday, hitting $96.06. 15,570 shares of the stock were exchanged. The stock’s 50-day moving average is $94.52 and its 200 day moving average is $80.91. Inogen, Inc has a 52 week low of $50.11 and a 52 week high of $97.71. The company has a market capitalization of $1.98 billion, a PE ratio of 85.92 and a beta of 1.02.

Inogen (NASDAQ:INGN) last posted its earnings results on Tuesday, May 9th. The medical technology company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.15. Inogen had a net margin of 9.32% and a return on equity of 11.67%. The firm had revenue of $52.50 million during the quarter, compared to analyst estimates of $49.06 million. During the same quarter in the prior year, the business posted $0.12 EPS. The business’s revenue was up 22.1% compared to the same quarter last year. On average, analysts anticipate that Inogen, Inc will post $1.09 EPS for the current year.

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INGN has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Inogen from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 11th. J P Morgan Chase & Co increased their price target on shares of Inogen to $102.00 and gave the company an “overweight” rating in a research note on Monday, June 26th. Stifel Nicolaus increased their price target on shares of Inogen from $65.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, May 10th. Needham & Company LLC reiterated a “buy” rating and issued a $83.00 price target on shares of Inogen in a research note on Wednesday, April 5th. Finally, Sidoti initiated coverage on shares of Inogen in a research note on Tuesday, April 18th. They issued a “neutral” rating and a $79.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Inogen presently has an average rating of “Buy” and a consensus target price of $91.60.

In other news, EVP Matt Scribner sold 2,500 shares of the company’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $94.21, for a total value of $235,525.00. Following the completion of the sale, the executive vice president now owns 4,833 shares in the company, valued at approximately $455,316.93. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Alison Bauerlein sold 6,666 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $83.24, for a total transaction of $554,877.84. Following the completion of the sale, the executive vice president now owns 25,758 shares of the company’s stock, valued at approximately $2,144,095.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 87,848 shares of company stock valued at $7,831,966. Company insiders own 5.31% of the company’s stock.

About Inogen

Inogen, Inc is a medical technology company. The Company develops, manufactures and markets portable oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions. The Company’s Inogen One systems concentrate the air around the patient to offer a single source of supplemental oxygen anytime, anywhere with a portable device.